Answer:
Net Income for the year is $23,175
Explanation:
The Company's income Statement is prepared below. In relation to the following please note that:
- Total Revenue is considered Section A while Total Expense is Section B and the Net Income is the difference of the same (A - B).
<u>Income Statement on December 31st:</u>
HOME REALTY, CORPORATION
Income statement
For period ended December 31st
Revenue $
Sales Revenue 166,000
Other Revenue -
Total Revenue (A) 166,000
Expenses: $
Salaries and Wages Expense 97,000
Interest Expense 6,300
Advertising Expenses 9,025
Income Tax Expense 18,500
Dividends 12,000
Total Expenses (B) 142,825
Net Income (A-B) $23,175
Answer:
Equipment $450,000 (debit)
Cash $35,000 (credit)
Suppliers Loan $415,000 (credit)
Explanation:
George Bailey must recognize the Asset of Equipment, de-recognize the Assets of Cash and recognize the Suppliers Loan as above.
As Lynn is working on writing the text that will be incorporated into a new magazine ad for her company’s line of handbags, she is engaging in the encoding stage of the communication process.
<h3><u>
What is encoding?</u></h3>
- Humans primarily communicate through encoding and decoding messages. The individual who creates and transmits the message is known as the encoder.
- The encoder must ascertain how the audience will interpret the message and make necessary changes to ensure that the audience interprets the message as intended.
- Encoding is the process of converting ideas into language. The message is transmitted by the encoder using a "medium" such a phone call, email, text message, in-person meeting, or other communication method.
Different signals require different levels of conscious thought when they are encoded. The encoder should also care for any "noise"—such as other messages, distractions, or influences—that could obstruct their message.
Know more about encoding with the help of the given link:
brainly.com/question/19586679
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The US started collecting federal income tax in 1913
